Net (Loss) Income per Common Share

9 Months Ended

Sep. 30, 2015

Net (Loss) Income per Common Share [Abstract]

Net (Loss) Income per Common Share

4. Net (Loss) Income per Common Share

The following table sets forth the computation of basic and diluted net(loss) income per share for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Basic and diluted net (loss) income per common share calculation:
Net income	$	5,439,000	$	21,207,000	$	1,715,000	$	23,773,000
Accretion of Series B redeemable convertible preferred stock		(7,163,000)		(323,000)		(9,329,000)		(955,000)
Net (loss) income attributable to common stockholders	$	(1,724,000)	$	20,884,000	$	(7,614,000)	$	22,818,000
Weighted average common shares outstanding - basic		5,813,063		3,743,182		5,247,508		3,688,903
Net income (loss) per share of common stock  - basic	$	(0.30)	$	5.58	$	(1.45)	$	6.19
Weighted average common shares outstanding - diluted		5,813,063		6,319,802		5,247,508		6,472,093
Net income (loss) per share of common stock - diluted	$	(0.30)	$	3.30	$	(1.45)	$	3.53

The following outstanding securities at September 30, 2015 and 2014 have been excluded from the computation of diluted weighted shares outstanding for the nine months ended September 30, 2015 and 2014, as they would have been anti-dilutive:

	September 30,		September 30,
	2015		2014
Options		631,126	15,280
Warrants		1,209,681	-
Series B redeemable convertible preferred stock as converted		1,505,571	-
Escrow		-	240,000
Total		3,346,378	255,280